• Environmental and Resource Economics Review
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• v.26 no.3
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• pp.359-398
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• 2017

Uncertainty is central to energy and climate policy. A growing number of literature show that almost all components of energy and climate models are, to some extent, uncertain and that the effect of uncertainty on the model outputs, in turn policy recommendations, is significantly large. Most existing energy and climate-economy models developed and used in Korea, however, do not take uncertainty into account explicitly. Rather, many models conduct a deterministic analysis or do a simple (limited) sensitivity analysis. In order to help social planners to make more robust decisions (across various plausible situations) on energy and climate change issues, an uncertainty analysis should be conducted. As a first step, this paper reviews the theory of decision making under uncertainty and the method for addressing uncertainty of existing probabilistic energy and climate-economy models. In addition, the paper proposes a strategy to apply an uncertainty analysis to energy and climate-economy models used in Korea. Applying the uncertainty analysis techniques, this paper revises the FUND model and investigates the impacts of climate change in Korea.

• Journal of the Korean Society of Marine Environment & Safety
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• v.14 no.3
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• pp.177-181
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• 2008

In this study, the authors analyzed the limit of IOPC Fund system, such as limit of compensation, amount of FC, long period of assessment by IOPC Fund, issue of non verification by poor claimant or small business, issue of poor claimant subsistence in early stage of accidents, and comparatively analyzed how the three countries resolved these limits by enacting special laws and government policy. Until recently most governments have carried out prevention policy for maritime safety, oil spill response, investigation of maritime accidents, and restoration of marine environment when oil spill accidents happened. However, governments have not actively participated in the oil spill compensation process because it is a matter of private sectors between the polluter and claimant. The governments have only limited their role in ratifying Civil Liability Convention and Fund Convention and enacted relevant domestic laws. However, the governments of France, Spain, and Korea have actively participated in the compensation process of oil pollution incidents of M/T Erika, M/T Prestige, and M/T Hebei Spirit. This is because they had experiences of unsuccessful compensation in M/T Amoco Cadiz, M/T Agean Sea, and M/T Sea Prince.

• The Journal of Korean Institute of Electromagnetic Engineering and Science
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• v.24 no.8
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• pp.849-859
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• 2013

This paper explores the policy alternatives to promote efficient use of spectrums for public use and terrestrial broadcasting, which are essential to provide spectrum for mobile broadband services. To this end, recent overseas spectrum management policies are introduced and utilized to provide domestic policy alternatives. For the efficient use of spectrum for public use, policy alternatives such as detailed survey of current usage of spectrum for public use, levying the opportunity cost, installment of spectrum efficiency fund, providing incentives for the efficient use of spectrum for military use, and introduction of shared use are proposed. For the efficient use of spectrum for terrestrial broadcasting, short-term policy alternative such as change of contribution rate base of the broadcasting - telecommunications development fund is proposed. For long-term policy alternatives, change of spectrum provision from designation to allocation for the spectrum for commercial terrestrial broadcasting and introduction of administered incentive pricing to public terrestrial broadcasting are proposed.

• The Journal of the Korea Contents Association
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• v.16 no.2
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• pp.354-364
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• 2016

The purpose of this study is to analyze current condition and features of female development funds of Busan primary local self-government, and to make useful implications out of this so that the local female development funds can contribute to its ultimate purpose, which is to achieve female development. The analyses show that 1) local self-governmental districts with good finance try to reserve funds by reducing programs; 2) local laws, which serve as the legal basis of female development fund utilization, do not reflect the value of gender equality; 3) the programs run by the female development funds lack contents; 4) beneficiaries of the fund programs aremixed; and 5) female policies and family policies are not separated, exhibiting the limitations of feministic perspectives. I propose that 1) the fund should be raised through the governance of local female groups and self-governments; 2) basic local laws should be revised: 3) gender perspective contents and birth support policy should be implemented.

• Asia-Pacific Journal of Business
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• v.12 no.3
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• pp.329-342
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• 2021

Purpose - The purpose of this study is to analyze the effect of investment by the National Pension Service, which has a high share as a single fund, on the dividend payout ratio. Design/methodology/approach - This study secured a share through DART of the Financial Supervisory Service and disclosure of the National Pension Service. We also used a fixed-effects model and 2SLS to analyze the data. Findings - First, it was found that there was a possibility of conflicting interests among shareholders concerning the company's dividend payment policy. Second, in the range of 3% to 4.9% of the National Pension Service shareholding, an additional increase in the holding ratio was found to have a positive (+) effect on the dividend rate. Third, after the introduction of the Stewardship Code, it was found that the increase in ownership of the fund had a positive (+) effect on the company's dividend payout ratio, regardless of the share ratio range. Moreover, the relationship between the fund ownership and the dividend payout ratio showed a clear positive relationship when free cash flow was high along investment opportunities were low. Research implications or Originality - First, This study included less than 5% of the share in the analysis. Second, We used the recent changes in fund shareholder activities. Third, We tested an instrumental variable to confirm the relationship between the National Pension Service share and the dividend ratio.

• Cartoon and Animation Studies
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• s.18
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• pp.17-35
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• 2010

The purpose of this study is to find out the way to improve the funding system of Korean animation, which will lead the establishment of virtuous circle of Korean animation industry. The funding structure of Korean animations in the period of 2005-2009 is analyzed to find out that the funding surveyed to find out that the domestic funding source for Korean animation has reached its limitation. Without any active involvement of public fund, this will result in the shrink of Korean animation industry with heavy reliance on foreign capital and limited quality of Korean animation. This is not only a serious problem of Korean animation industry, but also the problem of Korean cultural identity and variety because it is related with the diminish and degradation of Korean children and family content. Meanwhile, in France and Canada, which are the major co-production partners of Korean animation, the animation production is being activated by the full support of government fund system, because the animation is regarded as the important genre which plays a critical public role in establishing the cultural identity and variety of such countries. Improvement of Korean animation funding system is not pursued by more injection of public fund into the industry. It should be designed to facilitate the investment from the private sector by improving the profitability of Korean animation. This goal can be achieved by public fund with annual budget of 25 billion Korean Won supporting the distribution and production of Korean animation. Discussion should be needed for securing the funding resources such as establishment of new animation fund or utilization of existing fund.

• KDI Journal of Economic Policy
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• v.26 no.2
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• pp.209-247
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• 2004

Although various publicly reserved funds have recently come to the fore of academic and policy-making attention in Korea, researchers rarely take up the issue of the reserve fund retained from annual profits by the central bank (i.e., the Bank of Korea). Starting with the general public choice premise that bureaucrats seek to maximize their discretionary budget, this paper first provides a theoretical reasoning why central bank's bureaucrats would prefer retaining annual profits to turning them to the Treasury. The major tenet to be emphasized is that retained profits as a reserve fund can give the central bankers discretionary power in their disposition. In particular, we focus on the close relationship between the reserve fund and the discount windows. The latter, as a monetary instrument, has traditionally been demonstrated to cause secrecy, arbitrariness, and other bureaucratic amenities in the previous literature. Subsequently, this paper, based on 61 countries data, empirically verifies that the central bank's reserve fund is at least partially used to additionally increase the discount windows. Since an excessive use of discount windows results in inflationary bias, we conclude the paper with some policy suggestions to have such bureaucratic power of discretion in check. This paper, if in its experimental nature yet, is expected to shed a critical implication for establishing the meaningful independence of the central bank to a host of countries.

• Journal of Technology Innovation
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• v.12 no.3
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• pp.259-276
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• 2004

This paper identifies success factors influencing technology commercialization, develops a framework for technology commercialization model among factors, commercialization, empirically investigates the framework, and suggests policy alternatives for more effective technology commercialization in the areas of information and communication technology industries in Korea. To facilitate commercialization of government-sponsored R&D projects, the following policy implications are suggested; manager's willingness and support on commercialization, and more abundant commercialization fund, former experience on commercialization, strong linkage with present business and technology, more information about government commercialization programs and technologies, and improved environment of commercialization including market protection and penetration support.

• Journal of Korea Technology Innovation Society
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• v.10 no.2
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• pp.310-333
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• 2007

This paper introduces a relative comparative advantage index and a composite concentration index of university research activity in science and technology. Three hypotheses were tested regarding differences of degree of concentration based on the size of government R&D fund, location of university, and source of foundation, respectively. T-test results imply that there are significant differences of concentration based on the size of R&D fund and source of foundation, while location of university does not show a significant difference. The paper generally suggests that the lesser size of government R&D fund would lead higher level of concentration, and public funded universities tend to maintain far higher concentration ratio. The paper contributes by introducing relevant indexes for analyzing university research competence, concentration and competitiveness, and hence by proposing policy direction and implication for university competitiveness policy.

• Journal of Korea Technology Innovation Society
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• v.3 no.3
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• pp.18-35
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• 2000

Universal service policy is the core of telecommunications policy and, therefore, in many countries, governments have been accomplished universal service as the critical goal of telecommunications policy. In the past when the market was under monopoly, the monopolist had the responsibility of supplying for universal service, whereas supply cost complemented through internal assistance. From 1998 when WTO basic telecommunications negotiation took effect, however, telecommunications markets fully opened, it was impossible to supply of universal service under the past system. Therefore, governments of major countries are trying to renew laws and institutions for policies compatible with competition environments. In this paper, I analyse and compare major countries' policies for the universal services and try to find out policy implication for Korea.